Belgian Financier Buys
Stake in France's Havas

PARIS -- Belgian financier Albert Frere has bought a stake of between 4% and 5% in French advertising company Havas SA, a company spokeswoman confirmed Friday.

Mr. Frere's move is likely to fuel further speculation over the future of Havas. In recent weeks, the French corporate raider Vincent Bollore has built up a stake of 22% in Havas, which is widely regarded by analysts as a possible takeover target.